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Crane Company originally issued 4400 shares of $10 par value common stock for $ 132000 ($ 30 per share). Crane subsequently purchases 430 shares of
Crane Company originally issued 4400 shares of $10 par value common stock for $132000 ($30 per share). Crane subsequently purchases 430 shares of treasury stock for $26 per share and resells the 430 shares of treasury stock for $31 per share. In the entry to record the sale of the treasury stock, there will be a
credit to Common Stock for $11180.
credit to Paid-In Capital from Treasury Stock for $2150.
debit to Paid-In Capital in Excess of Par of $12900.
credit to Treasury Stock for $4300.
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